Mr. President, I would like to take a moment to recognize the 50th anniversary of one of the great economic development organizations in my home State, the Kentucky Highlands Investment Corporation, KHIC. Throughout 22 counties in…
Mr. President, I would like to take a moment to recognize the 50th anniversary of one of the great economic development organizations in my home State, the Kentucky Highlands Investment Corporation, KHIC. Throughout 22 counties in southeastern Kentucky, this community development institution provides the necessary assistance to groups by bringing new opportunities to the region.
Since its creation in 1968, the KHIC claims a remarkable record of financial investment and job creation. In fulfillment of its founding mission, the organization has invested more than $350 million and helped create or maintain approximately 22,000 jobs. A significant amount of the KHIC's success has occurred in Promise Zones, federally designated regions of high poverty. I applaud organizations that are able to encourage economic growth in the areas of greatest need, and I am especially proud of the KHIC for doing just that.
To accomplish its goals, the KHIC focuses its efforts on four main areas: providing loans and giving equity investments, building housing solutions and driving innovation. The KHIC collaborates with experienced entrepreneurs and community leaders who offer guidance and support to a wide variety of small businesses in this region, and it is easy to see the half-century of success that has resulted.
I have proudly supported the KHIC's work in its applications for competitive Federal grants. Much to my delight, their programming has been awarded Federal grant resources to bolster its successful work in Kentucky. I will continue to work with the KHIC and other groups to make a difference in our Commonwealth.
It is my privilege to congratulate the men and women of the KHIC for their golden anniversary. Under the leadership of the chairman of the board of directors William Singleton and president and CEO Jerry Rickett, the people of southeastern Kentucky have strong advocates working tirelessly on their behalf. In particular, I want to thank Jerry Rickett for his many years of outstanding work for the people of southeastern Kentucky. I would like to extend my sincere congratulations to the KHIC and its staff and supporters, as the organization celebrates 50 years of accomplishment. Along with my Senate colleagues, I wish them the best and look forward to the KHIC's many future successes.